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Home > Country Profiles > Antigua and Barbuda

Country Profiles

Antigua and Barbuda - Economy

Whitaker's Almanack Version

Financial Outlook

The Eastern Caribbean islands of Antigua and Barbuda regained their status as high-income economies in July 2013, reversing a previous World Bank downgrading of the two to “middle-income” countries in 2010. The “high-income” designation is restricted to countries with per capita earnings above US$12,616. According to the IMF, Antigua managed to reduce its fiscal deficit from 18% of GDP in 2009 to just over 1% in 2012. Over the same period its debt ratio fell from 102.5% of GDP to 89%. The country recorded improvements in its tourism and construction industries. However, according to a statement by the Eastern Caribbean Central Bank, based in St Kitts, economic conditions are likely to remain subdued through the remainder of 2013 across all the island nations that make up the Organization of Eastern Caribbean States. On a positive note, construction increased through much of 2013, reversing decreases in 2012.

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Further reading on Antigua and Barbuda

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